Second Integrated Road Investment Program (ADB-50301-001)

Countries
  • Sri Lanka
Where the impacts of the investment may be experienced.
Financial Institutions
  • Asian Development Bank (ADB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Sep 29, 2017
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Government of Sri Lanka
The holder of the loan, grant, or other investment.
Sectors
  • Transport
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Loan Amount (USD)
$ 900.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 1,084.60 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Bank Documents
Primary Source

Original disclosure @ ADB website

Updated in EWS Oct 25, 2017

Disclosed by Bank Sep 26, 2017


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Project Description
The investment program will improve the accessibility of the road network in Sri Lanka's rural areas, and thereby increase the involvement of the rural population in nationwide economic and social development. It will upgrade and maintain about 3,400 kilometers (km) of rural access roads to an all-weather standard; rehabilitate and maintain to a good condition about 340 km of national roads in Eastern, Northern, Uva, and Western provinces; and improve the capacity of road agencies with respect to safeguards, road safety, maintenance, research capacity, and road design and construction. PROJECT RATIONALE AND LINKAGE TO COUNTRY/REGIONAL STRATEGY In spite of the rapid progress in poverty reduction, Sri Lanka still faces several challenges to fully eradicate poverty. Pro-poor economic growth will need to be driven not by the high rates of public expenditures but by market-oriented value addition and private-sector-led investment. In this context, access to market, business and knowledge opportunities and benefits especially along agricultural value chains will be a key to further poverty reduction and shared prosperity in rural areas. IMPACT Connectivity between rural communities and socioeconomic centers in Sri Lanka improved. CONSULTING SERVICES Consultants will be recruited, as firms or individuals, to support the project implementation and capacity development in accordance with ADB's Guidelines on the Use of Consultants (2013, as amended from time to time). PROCUREMENT Procurement of civil works and equipment will be carried out in accordance with ADB Procurement Guidelines (2015, as amended from time to time).
Investment Description
  • Asian Development Bank (ADB)
MFF Facility Concept 0102-SRI: Second Integrated Road Investment Program Ordinary capital resources US$ 815.00 million concessional ordinary capital resources lending / Asian Development Fund US$ 85.00 million Counterpart US$ 184.60 million
Contact Information
ACCOUNTABILITY MECHANISM OF ADB The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main